Order queue order modification

[maddy_Des]

When ever order is placed, it gets in a queue. The orders are executed as FIFO basis.
This is what I know.
But when ever order is modified does it get directly to the back of the queue?
Like I am trying to sq off my deep OTM option. I put in sell order at 0.55.
Now if I mod it to 0.50 will my order get to the back of the q of the orders pending at 0.50?
@nithin

[siva]

@maddy_Des

Now if I mod it to 0.50 will my order get to the back of the q of the orders pending at 0.50?

Matching is based on price-time priority, 1st preference is price and then it is time, so if price is modified then it will get new time stamp, modification is also considered as new message from exchange point of view so new time stamp will be allotted even if we modify any other parameters like quantity etc.

[MayankMaheshwari]

@siva even when our quantity change is a reduction?
Isnt there a in place change, hence maintain our position in the queue?

[siva]

@MayankMaheshwari

even when our quantity change is a reduction?
Isnt there a in place change, hence maintain our position in the queue?

Any change is treated like a new update so position will change in queue.

[MayankMaheshwari]

thanks!